MTN has stated that it is willing to pay $1.5 billion of the $3.9 billion fine it faces in Nigeria in order to resolve its dispute with the regulator.

The NCC (Nigerian Communications Commission) issued the fine – which has been reduced from $5.2 billion - in October after MTN failed to comply with an order to disconnect unregistered SIM cards from its network as part of a counter-terrorism drive.

Nigerian president Muhammadu Buhari stated earlier this week that the government was attempting to settle the situation with MTN. The operator has already abandoned a legal challenge against the fine and made a “good faith” payment of $250 million to the country.

The settlement offer was reportedly revealed to journalists in the Nigerian Senate following the communications committee’s pronouncement that Communications Minister Adebayo Shittu should continue talks with MTN.